The Treasury Department yesterday sold $18 billion of 30-day cash management bills, dated May 20 and due June 19, at a 1.990% high tender rate.

The bid to cover ratio was 3.31. The coupon equivalent was 2.021%. The price was 99.834167.

The low bid was 1.890%. The median bid was 1.950%. Tenders at 1.990% were allotted 8.73%.

Tenders totaled $59,592,046,000 and the Treasury accepted $18,000,211,000, including $27,046919,000 of noncompetitive.

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